Market should not go lower than 1.3094 - 1.3036. After this move down it should go up to 1.3193 - 1.3234 area.

Technical Forecast

  • Elliott Wave

    elongated flat correction down

Key Points

  • Key Point1.3103
  • Entry Point1.3180
  • Trendline 11.3269
  • Trendline 21.3245
  • Elliott1.3293
  • Closing1.3117
  • Ex-Low1.3071
  • Ex-High1.3269
  • Projection1.2986

Supports and Resistance levels

  • Support 11.3036
  • Support 21.2954
  • Resistance 11.3234
  • Resistance 21.3350
  • Pivot1.3152

It looks set for gains to 1.3364. Supports at 1.3169 and 1.3105. A break of 1.2974 will damage this bullish structure.

Technical Forecast

  • Elliott Wave

    zigzag or flat correction

Key Points

  • Key Point1.3238
  • Entry Point1.3166
  • Trendline 11.3124
  • Trendline 21.3129
  • Elliott1.3050
  • Closing1.3236
  • Ex-Low1.3103
  • Ex-High1.3363
  • Projection1.3312

Supports and Resistance levels

  • Support 11.3105
  • Support 21.2974
  • Resistance 11.3364
  • Resistance 21.3493
  • Pivot1.3234

Current fall is near an end of wave around 1.3014 zone, a rally should then procede to above 1.3438. Fall below 1.2820 would cancel this scenario.

Technical Forecast

  • Elliott Wave

    resistance in an elongated correction

Key Points

  • Key Point1.2960
  • Entry Point1.3067
  • Trendline 11.3247
  • Trendline 21.3023
  • Elliott1.4377
  • Closing1.3208
  • Ex-Low1.3050
  • Ex-High1.3474
  • Projection1.2891

Supports and Resistance levels

  • Support 11.3014
  • Support 21.2820
  • Resistance 11.3438
  • Resistance 21.3668
  • Pivot1.3244